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INCO vs. VOO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

INCO vs. VOO

Last updated Aug 4, 2026
Documentation

INCO (Columbia India Consumer ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - INCO is a India Equities fund tracking the Indxx India Consumer Index, while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, INCO returned 8.21%/yr vs 15.17%/yr for VOO. Their 0.44 correlation means their historical movements had little consistent relationship. INCO charges 0.75%/yr vs 0.03%/yr for VOO.

Performance

INCO vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia India Consumer ETF (INCO) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, INCO achieves a -4.14% return, which is significantly lower than VOO's 11.72% return. Over the past 10 years, INCO has underperformed VOO with an annualized return of 8.21%, while VOO has yielded a comparatively higher 15.17% annualized return.

INCO

1D
0.96%
1M
2.92%
6M
-2.33%
YTD
-4.14%
1Y
-2.08%
3Y*
8.48%
5Y*
7.47%
10Y*
8.21%
ALL TIME*
9.53%

VOO

1D
1.42%
1M
1.69%
6M
9.53%
YTD
11.72%
1Y
23.30%
3Y*
20.85%
5Y*
13.12%
10Y*
15.17%
ALL TIME*
14.88%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

INCO

Columbia India Consumer ETF
$2.43M$1.91M$1.89M

VOO

Vanguard S&P 500 ETF
$3.97B$3.80B$5.49B

INCO vs. VOO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
INCO
Columbia India Consumer ETF		-4.14%0.59%12.70%34.63%-7.01%19.28%14.55%-4.22%-10.81%53.28%
VOO
Vanguard S&P 500 ETF		11.72%17.82%24.98%26.32%-18.17%28.79%18.32%31.37%-4.50%21.77%

Correlation

The correlation between INCO and VOO is 0.38, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.38

Correlation (3Y)
Balances recent behavior with more history.

0.35

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.42

Correlation (10Y)
Provides a long-term view across more market conditions.

0.43

Correlation (All Time)
Calculated using the full available price history since Aug 10, 2011

0.44

INCO vs. VOO - Sectors Allocation Comparison

Sectors
INCO
VOO

Consumer Cyclical

61.2%
9.5%

Consumer Defensive

36.0%
4.5%

Healthcare

2.0%
8.9%

Industrials

1.4%
8.5%

Technology

0.8%
38.6%

Basic Materials

-

1.7%

Communication Services

-

9.9%

Energy

-

3.0%

Financial Services

-

11.4%

Real Estate

-

1.8%

Utilities

-

2.2%

Consumer Cyclical

INCO
61.2%
VOO
9.5%

Consumer Defensive

INCO
36.0%
VOO
4.5%

Healthcare

INCO
2.0%
VOO
8.9%

Industrials

INCO
1.4%
VOO
8.5%

Technology

INCO
0.8%
VOO
38.6%

Basic Materials

INCO

-

VOO
1.7%

Communication Services

INCO

-

VOO
9.9%

Energy

INCO

-

VOO
3.0%

Financial Services

INCO

-

VOO
11.4%

Real Estate

INCO

-

VOO
1.8%

Utilities

INCO

-

VOO
2.2%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Columbia India Consumer ETF

Vanguard S&P 500 ETF

Often compared with INCO:
INCO vs. INDAINCO vs. INDYINCO vs. SMININCO vs. FLININCO vs. EPIINCO vs. GLININCO vs. INQQ
Often compared with VOO:
VOO vs. VTIVOO vs. QQQVOO vs. SCHDVOO vs. VTVOO vs. FXAIXVOO vs. SPYVOO vs. VGT

Return for Risk

INCO vs. VOO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
INCO
INCO Risk / Return Rank: 99
Overall Rank
INCO Sharpe Ratio Rank: 99
Sharpe Ratio Rank
INCO Sortino Ratio Rank: 99
Sortino Ratio Rank
INCO Omega Ratio Rank: 99
Omega Ratio Rank
INCO Calmar Ratio Rank: 1010
Calmar Ratio Rank
INCO Martin Ratio Rank: 1010
Martin Ratio Rank
VOO
VOO Risk / Return Rank: 7878
Overall Rank
VOO Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
VOO Sortino Ratio Rank: 7777
Sortino Ratio Rank
VOO Omega Ratio Rank: 7878
Omega Ratio Rank
VOO Calmar Ratio Rank: 7474
Calmar Ratio Rank
VOO Martin Ratio Rank: 8383
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

INCO vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia India Consumer ETF (INCO) and Vanguard S&P 500 ETF (VOO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

INCOVOODifference
Sharpe ratioReturn per unit of total volatility
-0.12
1.83

-1.95

Sortino ratioReturn per unit of downside risk
-0.05
2.53

-2.58

Omega ratioGain probability vs. loss probability

0.99

1.33

-0.33

Calmar ratioReturn relative to maximum drawdown

-0.10

2.63

-2.73

Martin ratioReturn relative to average drawdown

-0.22

11.23

-11.45

INCO vs. VOO - Sharpe Ratio Comparison

The current INCO Sharpe Ratio is -0.12, which is lower than the VOO Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of INCO and VOO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

INCO vs. VOO - Drawdown Comparison

The maximum INCO drawdown since its inception was -47.69%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for INCO and VOO.

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Drawdown Indicators

INCOVOODifference

Max Drawdown

Largest peak-to-trough decline

-47.69%

-33.99%

-13.70%

Max Drawdown (1Y)

Largest decline over 1 year

-21.37%

-8.90%

-12.47%

Max Drawdown (3Y)

Largest decline over 3 years

-29.98%

-18.69%

-11.29%

Max Drawdown (5Y)

Largest decline over 5 years

-29.98%

-24.52%

-5.46%

Max Drawdown (10Y)

Largest decline over 10 years

-47.69%

-33.99%

-13.70%

Current Drawdown

Current decline from peak

-18.36%

0.00%

-18.36%

Average Drawdown

Average peak-to-trough decline

-10.69%

-3.67%

-7.02%

Ulcer Index

Depth and duration of drawdowns from previous peaks

9.67%

2.08%

+7.59%

Volatility

INCO vs. VOO - Volatility Comparison

Columbia India Consumer ETF (INCO) and Vanguard S&P 500 ETF (VOO) have volatilities of 3.97% and 3.81%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

INCOVOODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.97%

3.81%

+0.16%

Volatility (6M)

Calculated over the trailing 6-month period

14.48%

10.18%

+4.30%

Volatility (1Y)

Calculated over the trailing 1-year period

17.24%

12.80%

+4.44%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.00%

16.95%

+0.05%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.30%

18.02%

+2.28%

INCO vs. VOO - Expense Ratio Comparison

INCO has a 0.75% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

INCO vs. VOO - Dividend Comparison

INCO has not paid dividends to shareholders, while VOO's dividend yield for the trailing twelve months is around 1.05%.

PositionTTM20252024202320222021202020192018201720162015
INCO
Columbia India Consumer ETF		0.00%0.00%2.88%3.81%10.57%6.25%0.34%0.28%0.12%0.05%0.09%0.00%
VOO
Vanguard S&P 500 ETF		1.05%1.13%1.24%1.46%1.69%1.25%1.54%1.88%2.06%1.78%2.02%2.10%

Frequently Asked Questions

INCO and VOO have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

INCO has higher volatility (3.97%) compared to VOO (3.81%). In terms of maximum drawdown, INCO dropped -47.69% vs VOO's -33.99%.

On 10-year performance, VOO leads with 15.17% vs 8.21% for INCO. On fees, VOO is cheaper at 0.03% per year. On volatility, VOO has been the lower-risk option at 3.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, VOO has performed better with a 15.17% return vs 8.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VOO is cheaper with a 0.03% expense ratio, compared with 0.75% for INCO.

VOO has the higher dividend yield at 1.05%, compared with 0.00% for INCO.

INCO is categorized as India Equities, while VOO is S&P 500. INCO tracks Indxx India Consumer Index, while VOO tracks S&P 500 Index. They also come from different issuers: Ameriprise Financial and Vanguard. Their fees differ too: 0.75% for INCO and 0.03% for VOO.

VOO currently has the higher Sharpe Ratio (1.83 vs -0.12), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

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